Startups, entrepreneurs should comply with laws irrespective of size: MoS IT Rajeev Chandrasekhar
Entrepreneurs and companies should comply with the rules and laws, irrespective of their size, scale and growth momentum, minister of state for electronics and technology Rajeev Chandrasekhar said on Monday.
“I have seen entrepreneurs beginning to trespass because the momentum of entrepreneurship takes them beyond what the regulators have allowed them to do at that particular point in time… even if you are a hard-charging, successful, innovative entrepreneur, you cannot live in denial of the reality that there are rules and laws that have to be complied with, and that applies to big companies, small companies, startups, legacy,” he said at the Mumbai Tech Week.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisitThis was in response to a question about regulatory hurdles faced by leading Indian startups, including Byju’s, Dream11 and Paytm, among others.
On the Paytm saga
Addressing the recent regulatory changes in the fintech ecosystem without naming Paytm Payments Bank, Chandrasekhar said that financial regulators must establish boundaries to ensure the transactions are legit. He also underscored the importance of discipline and rigour in navigating the challenges of growth.
“A financial regulator will always look at harms like money laundering, know your customer
